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Trending down. Crypto assets shook the downturn and managed to eke out a green candle last week, but are at risk of relapsing into the all too familiar red pattern that has afflicted price since April. What happened this week in markets, and where is the outsized upside?
With BTC yet again pressed against the bottom of its local range and funding rates remaining at relatively healthy levels, bulls can get comfortable entries here if markets are to maintain their uptrend, but should remain cognizant that a break of $60k support will extend the downside.
While gains made by the total crypto market lagged behind those of BTC last week, Bitcoin dominance fell slightly this week, which can clearly be observed through strength from a smattering alts amid the broader down week.
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